An audit plan includes a detailed listing of the audit procedures to be performed in the verification of items in the financial statements.

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An audit plan is a comprehensive document that outlines the scope, objectives, resources, timelines, and key procedures of an audit engagement. One of the crucial components of an audit plan is the listing of the audit procedures that the auditor plans to perform to obtain sufficient and appropriate audit evidence. The audit procedures may include tests of controls, substantive testing, analytical review, inquiry, observation, and other auditing techniques. The purpose of these procedures is to assess the adequacy of internal controls, detect material misstatements, and evaluate the overall fairness of the financial statements. Therefore, the statement "an audit plan includes a detailed listing of the audit procedures to be performed in the verification of items in the financial statements" is true.

An Audit Plan Includes a Detailed Listing of the Audit